SAN FRANCISCO - June 2, 2010
Social Gold, the leading virtual goods monetization platform for thousands of online games and virtual worlds, today announced new partnerships with international payment networks, GASH and MyCard. Social Gold will now be able to provide a broader variety of payment methods for users worldwide. By partnering with GASH and MyCard, users in parts of Asia including Taiwan, Hong Kong, Singapore, Malaysia, and Macau can make payments in their local currency and will benefit from a more seamless payments experience. Currencies that will now be supported by Social Gold include the Taiwan dollar, Hong Kong dollar, Singapore dollar, and Malaysian ringgits. With today’s payment networks launch, Social Gold starts supporting the virtual economies in Southeast Asia for online communities including Miniclip, Tagged, Ohai and Lolapps.
“By working closely with international payment partners such as GASH and MyCard, we’ve developed the Social Gold platform to be more comprehensive and effective in monetizing audiences in global markets,” said Vikas Gupta, co-founder and CEO of Social Gold.“We continue to push innovation in our platform to help our customers, and we accomplish this by focusing on the most relevant payment methods for converting end users– as opposed to providing a laundry list of archaic, old payment methods that are not relevant for end users anymore.”
“By working with Social Gold, we're able to provide developers with an effective way to monetize players while also saving them on local fees and high exchange rates,” said Hank Su, CFO of GASH.
Social Gold enables developers to create and manage their virtual economy with customized payment options. By offering more local currencies in new locations, developers can better tailor the user experience to be as seamless as possible. The launch with partners, GASH and MyCard, extends Social Gold’s reach to new markets in Asia. Social Gold also holds partnerships with direct payment methods such as paysafecard, Cherry Credits and Ukash, to support local payments across Canada, Europe, Asia and Latin America. Social Gold has found that by providing multiple payment options and supporting payment methods in local currencies, publishers can benefit from a 10% increase in the average order size.
“As the market for online games and virtual worlds continues to grow, working with Social Gold enables us to expand our reach to these paying customers through their strategic partnerships with leading game developers,” said Chin-Po Wang, CEO of MyCard.
With the new additions of GASH and MyCard, developers can monetize a wider variety of currencies to ultimately provide an improved end user experience. Furthermore, developers can optimize their virtual economy through Social Gold’s easy-to-integrate payments platform and in-Flash payments solution, which enables players to buy virtual goods without having to leave the game. As a result, developers typically see improved conversion rates (30-50% lift) as well as the lifetime value of customers increase to twice as high when integrating the Social Gold platform. Additionally, the customizable interface and white-labeled currency solution enables developers to tailor the platform specifically to their needs.
For more information about the Social Gold comprehensive payments platform, visit the official website at http://getsocialgold.com.
About Social Gold TM
Social Gold TM is an industry-leading virtual goods monetization platform owned and operated by Jambool, Inc. The Social Gold platform enables developers to create and manage their own white-labeled virtual currency, provide an unparalleled payments experience to their users, and optimize their virtual economy using robust analytics. Through an innovative in-Flash payments solution and direct integrations with the most relevant payment methods in global markets, the Social Gold platform streamlines the purchasing experience and drives conversion. Jambool, Inc. was co-founded by Amazon.com veterans Vikas Gupta and Reza Hussein and has offices in San Francisco, Seattle and Singapore. For more information, please visit http://getsocialgold.com.
© Jambool, Inc. All rights reserved. Jambool and Social Gold are the trademarks of Jambool, Inc. All third-party trademarks are the property of their respective owners.
Alexia Nielsen, TriplePoint